Stock is an upward channel.
Broke recent resistance and now is consolidating in a pennant formation.
A break above should be into above 136, for targets towards the channel resistance unless any reversal indicated.
...I saw ur face
in a crowded place....
One of my personal favorites from long term investment point of view
Even from Fundamental perspective the stock has a great story...
- Railway tickets are getting costlier
- Fuel cost is under control
That augurs well for the airline sector and Spicejet has positioned itself well to take advantage of the current...
Scrip which has shown strong bull momentum from 60 with regressive green candlesticks pushing the price to greater heights
Might touch support levels again owing to %william in oversold stage (above -20) and then, rebound to break the resistance level - 124
Will be buying on dips towards support levels :)
Macro-economic factors could be favorable for aviation...
There is a bullish Falg Pattern breakout in Spice Jet with huge volume and retest the breakout level at Rs 77.75 stock started bull from 62 till 76.70 hence target would be (76.70-62=14.75) add to breakout level of Rs 76/- that comes to Rs 90 and time frame would be 4 trading session. stoploss would be below breakout level of Rs 76 on closing basis.
Price is struggling with multiple trendlines.
Last price action is encouraging with a faster retracement of the last fall.
Major breakout above 71-72 levels.
Sequence of supports from 65 - 58 ad 54.
Taking a long would be an ideal situation though the uptrend is not confirmed because the chikou span is still in the cloud, but if you trade you can take trade with a small stop.
When Spotted last at 65-67 in Year 2016- Updated that 54-55 is the key & a critical zone for the Spicejet-if gets broken, then It shall move in next leg down to complete the E-wave.
Critical Zone acted as support recently & it turns from recent low of 55.50 to current levels of 58- this stock is trapped- likely has great chances of moving down in the months ahead...
Since Sep2005 highs@115- SpiceJet has been moving sideways between upper boundary 100-115 to between 10-15 as lower boundary.
In short term chart- there is a double bottom of the zone 54-55 zone, which is yet to finish its larger E-wave & biggest opportunity of the decade could be knocking your doors in June -July 2017 in the zone where E-wave completes 61.8% of...
The zone of 54-55 has held SpiceJet for almost 9-10 months. Once it breaks below 54-55- SpiceJet will also join the party with Jet Airways.
Related Analysis Attached Below
